Tariffs to cost Nike $1 billion this year
30/06/2025
Sports group Nike has said it will seek to reduce its imports of shoes from China in the face of rising tariff rates.
It said on releasing its results for the year ending May 31, 2025 that its revenues were down 10%, reaching $46.3 billion. Footwear sales brought in $29.5 billion, a fall of 12% year on year.
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